BlackRock and Fidelity Buy Millions in ETH Amid Market Volatility
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- BlackRock and Fidelity acquired more ETH tokens at lowered prices.
- Massive ETH purchases triggered a slight rally in the altcoin’s price.
- Ethereum targets $3,000 to flip into a bullish outlook.
BlackRock, the top-tier asset management company provider, purchased 100,535 ETH, equivalent to $284.92 million, on Wednesday morning. A cryptocurrency transactions tracker that posted about BlackRock’s latest acquisition on X also reported that Fidelity, another top asset management company, bought 9,552.99 ETH worth $26.39 million shortly after BlackRock’s purchase.
Related: China’s Tariff Retaliation Drags Altcoin Prices Down; ETH Eyes $2.2K–$2.5K
ETH Price Volatility and Market Context
The massive ETH purchases happened within a volatile week for digital assets when Ethereum’s price plunged alongside other cryptocurrencies following the revised international trade policies. ETH tumbled to a $2,150 low on Monday before rebounding quickly within the same trading day. However, the price stalled midway into the rec…
The post BlackRock and Fidelity Buy Millions in ETH Amid Market Volatility appeared first on Coin Edition.
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